Businesses Suffer Serious Effects From Power Outages
- Nov 8, 2019 10:22 pm GMT
There has been plenty of news lately about power outages as Pacific Gas & Electric (PG&E) has instituted blackouts for millions of customers in California to reduce the risk of fire danger. Many stories about these planned outages have focused on how the shutoffs impact residents but businesses across multiple industries are heavily impacted as well.
According to E Source, power outages cost U.S. businesses $27 billion per year within eight key market segments. Further, a four-hour power disruption costs an average of $10K to $20K while a three-day outage can cost upwards of $50K. Marketplace notes that, in some parts of the world where access to electricity is unreliable, business owners work the cost of backup power into their standard operating budgets.
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